Nike, Inc. (NYSE:NKE) Declares Quarterly Dividend of $0.18
Nike, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, August 10th, RTT News reports. Shareholders of record on Tuesday, September 5th will be given a dividend of 0.18 per share by the footwear maker on Monday, October 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%.
Nike has raised its dividend by an average of 36.4% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Nike has a dividend payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nike to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 25.6%.
Nike (NYSE:NKE) traded down 1.39% during midday trading on Thursday, reaching $59.07. The company’s stock had a trading volume of 5,584,376 shares. The company has a 50 day moving average price of $57.59 and a 200 day moving average price of $55.54. The firm has a market cap of $97.06 billion, a price-to-earnings ratio of 23.53 and a beta of 0.59. Nike has a 1-year low of $49.01 and a 1-year high of $60.53.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Nike will post $2.42 EPS for the current year.
In other news, insider Eric D. Sprunk sold 112,323 shares of Nike stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 492,360 shares of company stock worth $28,485,174. Corporate insiders own 3.90% of the company’s stock.
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A number of brokerages have weighed in on NKE. Cowen and Company set a $54.00 price target on Nike and gave the stock a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies reissued a “buy” rating on shares of Nike in a research note on Thursday, July 27th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Guggenheim reissued a “buy” rating and set a $70.00 price target on shares of Nike in a research note on Monday, July 24th. Finally, Stifel Nicolaus set a $66.00 price target on Nike and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.04.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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